Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Panalpina Jumps on Air Freight Volumes Forecast: Zurich Mover

Don't Miss Out —
Follow us on:

July 26 (Bloomberg) -- Panalpina Welttransport Holding AG jumped the most in three months after the company said it may gain market share in air freight after volume in that business rose in the second quarter for the first time in two years.

Shares of the Basel, Switzerland-based company rose as much as 9.7 percent to 130 Swiss francs, the highest price since January 2011.

“Air freight was the big surprise to us,” William Foggon, an analyst at Berenberg Bank in London wrote in a note to clients today. “Panalpina delivered a huge outperformance of expectations.”

Shipping companies are struggling as the countries sharing the euro endure the longest recession since the currency was introduced. Panalpina today forecast it may be able to outperform the air freight industry, compared with an earlier expectation of maintaining market share at best.

The shares traded 8.7 percent higher at 128.80 francs at 10:24 a.m. in Zurich, valuing the company at 3.1 billion francs ($3.3 billion). That brings the gain this year to 39 percent, making the company the best performer on the 22-member Bloomberg Europe Transportation Index.

Second-quarter net income jumped 43 percent to 24.1 million francs, as sales advanced 3.5 percent, Panalpina said today.

To contact the reporter on this story: Richard Weiss in Frankfurt at

To contact the editor responsible for this story: Benedikt Kammel at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.